Confidence in UK advisers rises 40% since RDR

Added 1st June 2016

Trust and confidence in financial advisers in the UK has risen by 40% since the introduction of the Retail Distribution Review (RDR), research from the Personal Finance Society (PFS) shows.

Confidence in UK advisers rises 40% since RDR

Having questioned 2,030 people in March, the trade body compared consumer confidence in the financial advice sector with a similar survey conducted in 2013, before the introduction of a fee-based model.

The survey filtered out 859 respondents who knew they could not afford advice, didn’t make investment decisions, or did not have funds to invest. 

The data shows that of the 445 people currently seeking financial advice 60% said they trust and having confidence in their advisers – compared to 43% in 2013.

Women consulting financial advisers accounted for the biggest positive shift in confidence with an 18% increase compared to 13% for advised men.

Meanwhile, of the 726 respondents who were unadvised, confidence levels have remained the same since 2013 at 18%.

Combining both advised and non-advised people those who said they trusted financial advisers rose by a meagre 2% from 32% in 2013 to 34% in 2016.

The PFS said it plans to conduct a similar survey later in the year to track progress.

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

Monira Matin

Senior Reporter

Monira joined International Adviser in March 2016 from Informa Global Markets where she worked as a eurobond reporter for over two years, covering fixed income markets. She has previously held a number of editorial positions covering politics, insurance and technology. Monira has a degree in Journalism and Economics from City University.


The turning tide of global equities

The turning tide of global equities

Despite a gloomy beginning to the year, global equities have started to outshine the backdrop of economic malaise that threatened their upward trajectory, with the index delivering 19.2%


Ashburton International
Ashburton International

Ashburton Investments is a new generation investment...



Offshore Bond Workshop Glasgow 2016
Offshore Bond Workshop Glasgow 2016

22nd November 2016
The Grand Central Hotel, Glasgow

Future Advisory Forum Dubai 2016
Future Advisory Forum Dubai 2016

23rd November 2016
Shangri-La Hotel, Dubai 

Sponsored Content

Investment Strategy